As part of Single Touch Payroll Phase 2 implementation, SapphireOneclients are required to update Payroll/HR with the latest Tax Scales for July 2022. These additional Tax Scale updates include the Study Training and Support Loans threshold and rate.
Study Training and Support Loans (STSL) threshold, formerly known as HECS, has changed as of 2 July 2022. There are a number of loans that fall under the STSL threshold including Higher Education Loan Program (HELP), VET Student Loan (VSL), Student Financial Supplement Scheme (SFSS), Student Start-up Loan (SSL) and ABSTUDY Student Start-up Loan (ABSTUDY SSL) and Trade Support Loan (TSL). All STSL loan repayments fall under a single set of thresholds and rates.
The SapphireOneclient has the ability to update to the most recent tax rate by entering the date of 02/07/2022. They will then be presented with a pop up window saying 5 Tax Scales Imported. To view the newly imported tax rates, the SapphireOne user can go to Tax Scale in Payroll/HRAdministration. Clients can select Show All and will be presented with all SapphireOne tax scales. By selecting Sort by Date you can view the most recent imports.
